Turkey’s Economic Confidence Index rises in March

ANKARA

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Turkey’s Economic Confidence Index improved for the second straight month in March, rising 5 percent to 96.1, data from the Turkish Statistics Institute (TÜİK) showed on March 30.

The increase in economic confidence index stemmed from the increase in construction, services, consumer and real sector confidence indices, according to TÜİK data. 

The advancement came after the index tumbled to record lows in December 2016 and January 2017. 

The index indicates an optimistic economic outlook when above 100 and a pessimistic one when below 100.         
The Construction Confidence Index rose to 85.8 in March following a massive 12.2 percent year-on-year increase. The Services Confidence Index jumped to 96.9, the Consumer Confidence Index went up to 67.8 and the Real Sector Confidence Index reached 106.7 in March, according to TÜİK data. 

The Retail Trade Confidence Index, however, decreased to 97.7 in March.